Journalize the following transactions under perpetual inventory system Q) Purchased 10 keyboards at a cost of 25 per package for a total of $250. Q) Sold three customers for cash to a customer at $50 each for a total of $150. Q) Allowed one customer to return one keyboard for a cash refund of $50. Q) Returned one damaged keyboard from the package worth of $50.
Journalize the following transactions under perpetual inventory system Q) Purchased 10 keyboards at a cost of 25 per package for a total of $250. Q) Sold three customers for cash to a customer at $50 each for a total of $150. Q) Allowed one customer to return one keyboard for a cash refund of $50. Q) Returned one damaged keyboard from the package worth of $50.
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter11: The Statement Of Cash Flows
Section: Chapter Questions
Problem 37E: Analyzing the Accounts Casey Company uses a perpetual inventory system and engaged in the following...
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Journalize the following transactions under perpetual inventory system
- Q) Purchased 10 keyboards at a cost of 25 per package for a total of $250.
- Q) Sold three customers for cash to a customer at $50 each for a total of $150.
- Q) Allowed one customer to return one keyboard for a cash refund of $50.
- Q) Returned one damaged keyboard from the package worth of $50.
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